Donegal Group, Inc. (DGICA) To Go Ex-Dividend on July 31st

Donegal Group, Inc. (NASDAQ:DGICA) announced a quarterly dividend on Thursday, July 16th. Shareholders of record on Friday, July 31st will be paid a dividend of 0.1925 per share by the insurance provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, July 31st.

Donegal Group has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Donegal Group has a dividend payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Donegal Group to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.77 annual dividend with an expected future payout ratio of 40.5%.

Donegal Group Stock Up 0.5%

NASDAQ DGICA opened at $18.71 on Friday. The stock’s 50-day moving average price is $17.82 and its 200-day moving average price is $17.96. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. Donegal Group has a 52 week low of $16.11 and a 52 week high of $21.06. The company has a market capitalization of $693.21 million and a P/E ratio of 10.45.

Donegal Group (NASDAQ:DGICA) last posted its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $247.83 million. Donegal Group had a net margin of 6.77% and a return on equity of 10.31%. On average, equities research analysts predict that Donegal Group will post 1.75 earnings per share for the current year.

Insider Activity at Donegal Group

In other Donegal Group news, major shareholder Mutual Insurance Co Donegal acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $16.62 per share, with a total value of $166,200.00. Following the completion of the purchase, the insider directly owned 14,117,109 shares in the company, valued at approximately $234,626,351.58. The trade was a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 139,487 shares of company stock valued at $2,392,488 in the last quarter. 2.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Donegal Group

Institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co raised its holdings in shares of Donegal Group by 31.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,733 shares of the insurance provider’s stock worth $75,000 after acquiring an additional 896 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Donegal Group by 8.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,215 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 1,000 shares during the last quarter. Strs Ohio grew its holdings in shares of Donegal Group by 3.7% in the fourth quarter. Strs Ohio now owns 28,300 shares of the insurance provider’s stock valued at $565,000 after purchasing an additional 1,000 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Donegal Group by 1.0% in the third quarter. Qube Research & Technologies Ltd now owns 132,848 shares of the insurance provider’s stock valued at $2,576,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Mariner LLC increased its position in Donegal Group by 9.9% in the fourth quarter. Mariner LLC now owns 14,874 shares of the insurance provider’s stock worth $297,000 after purchasing an additional 1,342 shares during the last quarter. 27.96% of the stock is owned by hedge funds and other institutional investors.

Donegal Group Company Profile

Donegal Group, Inc (NASDAQ: DGICA) is a property and casualty insurance holding company headquartered in Marietta, Pennsylvania. Through a network of independent agencies, the company offers a suite of personal and commercial insurance products. Its underwriting subsidiaries provide homeowners, automobile, farmowner, commercial multi-peril, surety and umbrella coverages designed to meet the needs of individuals, families and businesses.

The company’s origins date back to 1925 with the formation of Donegal Mutual Insurance Company to serve rural communities in Pennsylvania.